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MAVO-lous Coin Set Sights on USD50 billion Industry(October 05, 2017)
Mario Kassar-led open video concept to disrupt global film industry, streaming media platforms
HONG KONG, Oct 5, 2017 - (ACN Newswire) - The entertainment industry thrives on controversy and in the current global economic landscape, few are more controversial than Initial Coin Offering (ICO) and cryptocurrency. As the debate on this subject rages on, Magic Mavo Studio Limited, an entertainment production company, today announced its ICO campaign to build a video playback platform that uses blockchain-based technology that is tied with new layers of smart contracts.
The platform, MAVO, operates using MAVO Tokens (known as MVT) as a utility token to bring filmmakers and producers, viewers and advertisers together in a bid to build a better model for the film industry. With MAVO, filmmakers will be able to exercise control over content rights for their own work, while being able to freely share their work on the MAVO platform.
MAVO is led by a team of highly experienced personalities in the global film industry including CEO and Founder, Jack Lee, a film producer and former Vice President of Sparky Animation Singapore and Digibook SNDA Shanghai, as well as acclaimed Hollywood producer, Mario Kassar, well-known for producing iconic action-packed films, Terminator and Rambo. Also, part of MAVO's leadership team is Eric Yap, former Security & Infrastructure Architect at bitFlyer (world's top cryptocurrency exchange), as well as Sandra Yap, a fintech entrepreneur and Hollywood actress and producer known for The Perfect Weapon, The Good Date and Savage Dog.
Jack Lee said, 'MAVO is built on a solid foundation made up of a sound business model, a highly knowledgeable talent pool as well as an established and extensive network within the global film-making eco-system.'
'The global film industry is also growing by leaps and bounds, with global film box office revenues targeted to reach almost US$50 billion by 2020. In terms of online streaming platforms, Netflix, the market leader, had recently announced that it has surpassed 100 million subscribers.'
'MAVO intends to not only capture a significant share of the traditional 'box office' and contemporary online streaming pies, but also shake-up the industry in a way that is more equitable for all participants. At the same time, MAVO can also inspire more creative, entertaining and innovative content that will benefit audiences worldwide,' Lee added.
Commenting on the MAVO platform, Mario Kassar said, 'The MAVO team is talented, full of energy and dynamic. I have full confidence in the team in fulfilling the aspirations of this dynamic platform.
Kassar was also the executive producer of critically acclaimed 'Rambling Rose' (which received two Academy Award nominations for Best Actress and Best Supporting Actress), 'The Doors', 'LA Story', 'Terminator 2: Judgement Day' (which grossed over $500 million dollars worldwide, was nominated for six 6 Academy Awards and won four), the erotic suspenseful 'Basic Instinct' (which garnered two Oscar nominations for best editing and best original score), 'Universal Soldier', and 'Cliffhanger' (which earned three Oscar nominations).
'The film-making landscape today is changing rapidly, especially in the way films are produced and distributed. I am able to help MAVO succeed by leveraging on my network and connections to attract world-class actors and film-making talent, not only from Hollywood but also from the ever-vibrant Asian cinematic scene, to believe in this platform and support MAVO whole-heartedly,' Kassar concluded.
Built on blockchain-based technology, MAVO allows the audience to access a diverse range of content and support and reward filmmakers for their work by using MVT. In return, filmmakers can also reward the audience and advertisers via MVT for supporting their films. Additionally, advertisers who want to target a larger audience through online media can use MVT to exchange for advertising spots for exposure.
Crowdsale for MAVO Tokens starts 6 November 2017 at 23:30 (GMT). For more information on MAVO, please visit www.mavotoken.com
For the MAVO whitepaper, please visit Whitepaper.mavotoken.com
About Magic Mavo Studio Limited
Based in Hong Kong, Magic Mavo Studio Limited's core business activities include IP (intellectual property) development and operations, investments in film production, film production, sales and distribution (Theatrical / TV programmes), music and recording production and artist management. Magic Mavo Studio Limited has affiliated offices in Shanghai, Taiwan and Malaysia.
The proposed membership plan, financial expenditure, roadmap and release timeline (if any) are only estimates and serve to illustrate the general future plan of MAVO. We reserve the right to make adjustments as reasonable based on available resources and other constraints. Further development and maintenance of the core MAVO platform, and acquisition of new contents to expand the Content Library are the primary cost that MAVO will expense in the near future. We will allocate resources to compensate the core MAVO team, and any future personnel who are signed onto the MAVO team, as necessary. This will primarily consist of Software Engineers, Platform and Infrastructure Engineers, Customer Service and Support Specialists, Product Strategists, and Contents Merchandisers, etc. MAVO platform will require users have a clear understanding of the rights and responsibilities of all parties involved in using MAVO. Once our token sale has concluded, we will invest the necessary time and capital in developing user agreements for smart contract deployers and content creators / sellers. MVT are only functional utility tokens intended to be used to compensate MAVO for use of its MAVO platform. These tokens will fuel the development of the MAVO Platform web player and/or app as soon as the minimum cap is achieved. MVT are not for speculative investment. No promises regarding value or future performance are made regarding MVT. No promises regarding any particular value of MVT are made. No other rights associated with holding MVT are given. Proceeds of the token sale may be spent as the company sees appropriate, which may change as deemed necessary in the maturation and advancement of MAVO. MVT is not a cryptocurrency. Our team is investing heavily in the safety and security of the services MAVO provides. However, we cannot protect against all possible sources of error, especially those in parts of the technology stack we cannot control. Therefore all risks assumed by using the MAVO platform in any capacity, including but not limited to deploying smart contracts, buying or selling video contents or streaming services using MAVO's platform, and collecting MVT through the MAVO platform are solely assumed by the user. Users must measure the gravity of potential value loss against their trust in the services MAVO will provide and act as they see appropriate. Never trust anything that one cannot afford to lose to any entity, MAVO or otherwise, without fully understanding all of the mechanics involved in the whole procedure. MVT tokens are meant to be held and used by those well-versed in cryptographic tokens, only for the purpose of accessing the services offered on the MAVO platform. MAVO and its team must abide within the laws set forth in its operational country(ies). We intend to provide our services in as decentralized a fashion as reasonably feasible, but our legal entity must act according to the rules and bounds encoded in applicable laws. This includes but is not necessarily limited to laws governing financial operations, employment, fee charging, and sales. MVT token sale does not constitute an offer or solicitation to sell shares or securities in MAVO Platform Developments, MAVO or any related or associated company. You are not eligible to participate in or purchase any MVT tokens in the MAVO Token Sale event if you are a citizen, resident (tax or otherwise) or green card holder of the United States of America and the People's Republic of China.
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